Virgin TiVo subscribers to hit 1 Million

By Steven Hawthorn on 30/07/12

Less than a year after its launch, the number of subscribers to Virgin Media’s TiVo box is expected to reach one million is the next few days, the company said on Tuesday.

The number of homes with the box has risen from 261,700 to 938,800 during the last three months, helping to boost revenues by 4% to £1bn for the quarter.

Neil Berkett, chief executive officer for Virgin Media, said: “This has been a quarter of improved revenue and OCF growth. We are well placed to benefit from the fast-growing demand for superfast broadband and Tivo positions us well to lead the evolving TV market. Customer ARPU and churn have improved and, together with our growing Business division and great value mobile offerings, we have maintained steady financial progress across the company which is translating into strong free cash flow as well as continued shareholder returns.”

Traditionally, the second quarter is where customer growth might be expected to fall, but Virgin Media was able to cap the figure at 14,700.

TiVo subscribers aren’t the only thing to increase for Virgin Media, 15,900 triple-play customers were also added in the quarter and superfast broadband subscribers have increased by 459,800 during the quarter, taking the total to 1.3 million, three times more than the number a year ago.

Virgin Mobile services are now being promoted to cable homes. At the end of the quarter there were 791,000 cable households with at least one Virgin Mobile contract. Virgin Media estimates a further 203,000 cable households have a least one prepay phone from the operator.
 

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